https://poundwise.purpledev.nl/?lang=en Poundwise Financial Coaching Thu, 14 Nov 2024 15:48:43 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.5 https://poundwise.purpledev.nl/wp-content/uploads/2020/10/cropped-favicon-32x32-1-32x32.png Poundwise Financial Coaching https://poundwise.purpledev.nl/?lang=en 32 32 A Look Back at the Book Launch for Our 25th Anniversary https://poundwise.purpledev.nl/a-look-back-at-the-book-launch-for-our-25th-anniversary/?lang=en Thu, 14 Nov 2024 15:48:43 +0000 https://poundwise.purpledev.nl/?p=12407

On October 3, 2024, we proudly and gratefully celebrated the launch of our book in honor of our 25th anniversary at Poundwise Financial Coaching. This special edition, titled “The Value of Money”, features 25 carefully selected client stories that together paint a beautiful and diverse picture of our clients and the society in which we operate. Each story highlights, in its own unique way, the value that money can have in people’s lives.

The interviews for the book were conducted by Marc van der Vuurst, who found it inspiring to hear how each client has their own perspective on the value of money. The photos in the book were taken by Arianne, who captured the individuals in a pure and authentic manner. Her images add depth to the stories and complete the publication. The book was created in collaboration with the advertising agency Switch, who compiled all the stories and brought them together with beautiful design, making it a cohesive whole.

The launch was a special occasion to reflect on the past 25 years with the clients who shared their stories with us. Of course, we deeply appreciate all of our clients, even those who are not specifically featured in the book. Your trust and stories form the foundation of our work and are invaluable to all of us. The highlight of the launch was when Marc handed the first copy to his mother, who has been his support and pillar throughout the years.

The book is exclusive and not for sale; it is a gift for our clients. When you have an appointment with us at the office, you will receive a copy as a token of our gratitude and appreciation.

With this milestone behind us, we are excited for the next 25 years. Thank you to all our clients for your years of trust and support!

Get acquainted?

Marc van der Vuurst

Director

info@poundwise.nl

+31 (0)20 305 75 55

]]> Bookkeeping https://poundwise.purpledev.nl/bookkeeping/?lang=en Tue, 02 Apr 2024 13:15:49 +0000 https://poundwise.purpledev.nl/?p=11929

 If you do what you love, you'll never work a day in your life.

Marc Anthony

As an entrepreneur, you want to focus on your core business; after all, you didn’t start your own venture for nothing and preferably do what makes you happy. However… That bookkeeping. Most entrepreneurs are not particularly thrilled about it. One solution could be to outsource it.

Your administration encompasses all the data about your business that you record on paper or electronically. It forms the basis of your tax returns: both VAT returns and your income tax return. If you have no interest or knack for bookkeeping, or if you want to fully dedicate your time to your business, why not come have coffee with us? We can precisely explain why you might consider outsourcing your bookkeeping.

The key benefits of outsourcing:

We handle your tax benefits.
You receive expert advice.
We don’t look back but forward, setting that goal on the horizon where you want to take your business.
You save yourself time or spend less time on administration

We not only assist with daily invoices but also with turnover and income tax. And based on your figures, we provide advice and smart money-saving tips. We know all the tax benefits, resulting in tax advantages. But it goes further than that: most accounting firms look at the numbers and can tell you how the past year went. But deep down, you already knew that. We LOOK AHEAD and can assist you in steering your business. Together with you, we set the goal on the horizon and work towards it. That’s why we’re called Poundwise Financial Coaching.

Interested? Then quickly make an appointment via our secretariat (020-3057555 or info@poundwise.nl) and come meet, for example, Rogier Fortuin or Inge Visser.

Hopefully, see you soon!

Get acquainted?

Rogier Fortuin

Accounting consultant

info@poundwise.nl

+31 (0)20 305 75 55

]]> Soon, every homeowner will be sent the new WOZ (Valuation of Property) value of their home https://poundwise.purpledev.nl/soon-every-homeowner-will-be-sent-the-new-woz-valuation-of-property-value-of-their-home/?lang=en Thu, 15 Feb 2024 14:06:49 +0000 https://poundwise.purpledev.nl/?p=10208

The WOZ value will rise by an average of 2 to 4% on an annual basis in 2024 (source: the Valuation Chamber). This varies from region to region and even from house to house. The value may have been set too high by the municipality. Should that be the case, Poundwise can lodge an objection on your behalf. You can read below how it works and what the benefits are for you.

Anyone can check the WOZ value of their property themselves in various ways. We can also do that for you. The check gives an indication of whether there is any point in objecting to the WOZ value. If it appears that the municipality has set the WOZ value too high or too low, we will lodge an objection for you.

However, a high WOZ value can be favourable if it qualifies you for a higher point value, lower mortgage interest or if you want to sell your house this year. We weigh all factors against each other.

The WOZ value is used to calculate the following taxes, among others:

State taxes:
- income tax
- corporation tax
- the gift and inheritance tax

Municipal taxes:
- the property tax owners (OZBE, only for owners)
- property tax users (only for users of business premises)
- water board tax

An excessively high WOZ value can be quite detrimental (from just under a hundred to a few thousand euros per year).

View comparable properties and specific reasons

If you think the value has been set too high or if you bought the property at or around the reference date for a lower price, chances are that the WOZ value is incorrect. We are experts in determining the value of your property and expertly substantiating the objection. We take into account similar sold properties in your neighbourhood and various features of your property that justify a different value. Favourable court rulings offer good opportunities for a successful objection.

Reasons why the WOZ value could be too high/low:

Value significantly higher than the previous year
No correct comparable properties mentioned
Number of m² is not correct (e.g. barn, attic, garage, extension)
The property has overdue maintenance (poor paintwork, leakage etc.)
The house has an outdated bathroom and/or kitchen
The house is subsiding or has cracks in the facade
The property is located on a busy road/ nuisance from supermarket/ railway avenue/ catering establishment/ school/ adjacent student accommodation
The house was bought recently at a lower price
The property was recently valued at a lower value by an appraiser
Comparable property with a lower WOZ value

Expert objection

Poundwise has a team of tax lawyers and estate agents who can make objections on your behalf. This can pay off. We make expert objections against an over-estimated WOZ value. We often see that the municipality does not take into account the details and specific features of the property (such as e.g. overdue maintenance, datedness, (noise) nuisance or an inferior location). Entire blocks have the same value or, on the contrary, similar properties have a different value. The Amsterdam municipality calculates the WOZ value on a model basis (sales figures are analysed per neighbourhood and per type of property).

The value on the assessment report applies for tax year 2024, but has a reference date of 2023 (the market value on 1-1-2023). We can object up to 6 weeks after the date of the decision. A lower valuation sometimes saves from just under a hundred to a few thousand euros per year.

Because of our expertise, the process is fast and lengthy legal processes are avoided (note that the municipality has 1 year to rule on objections). The cost of this service is based on an hourly rate.

We assess the chances of success in advance (our success rate has therefore been exceptionally high in the past).

Objection by heir

As an heir, you cannot object to the original WOZ assessment. You can ask the tax department for a new WOZ assessment. Support your request with a certificate of inheritance. After receiving the decision, you can object up to 6 weeks after the date.

What should you do?

If you think that the WOZ value is too high (or too low), send an e-mail with a complete and legible copy of the decision + an authorization (see bottom of this newsletter) as soon as possible to info@poundwise.nl.

In the subject please mention the following: YOUR BACK NAME + objection WOZ 2024. We would also like to hear the reasons why the value might not be correct. We will then start working for you.

You will receive communication about the progress from our tax specialists. Should the municipality respond, you will hear from us again. If you receive a response from the municipality, please share a copy with us. If no decision has been made by the end of the year, we can take follow-up steps in the new year.

If you have any questions about the above, you can always contact us by telephone (020-305 7555).

Get acquainted?

Daphne Alon

Tax advisor/financial planner

info@poundwise.nl

+31 (0)20 305 75 55

]]> Income tax – turning tax returns into a savings plan https://poundwise.purpledev.nl/income-tax-turning-tax-returns-into-a-savings-plan-2023/?lang=en Tue, 23 Jan 2024 09:40:52 +0000 https://poundwise.purpledev.nl/?p=9698

This newsletter contains detailed information about your tax return(s) for the year 2023, answering questions about deferral, documentation, rates, deductions and our tips for ensuring that we receive the right information from you, in the right form. In our point of view your tax return is a good starting point for a complete financial advice. We will take an accurate look to your financial products. In this way your tax return can lead to easy savings!

The process in 6 steps (explanation is below);

We request a deferral for you;
We request a VIA code for you – you must forward the code(s) to us;
Then we ask you to submit any documentation we need;
The codes will be activated and the documents will be registered. We will then schedule in the tax return;
Once the tax return forms have been completed, these will be sent to you for your approval;
After the returns have been filed, you can usually expect to receive the tax assessment within 3 months.

Please read this newsletter carefully. As in previous years, we remain committed to providing you with financial security.

Tax advice

A personal meeting to discuss changes in your personal and professional circumstances
Preparing your income tax returns is an excellent opportunity for you and your Poundwise advisor to take the time to reflect on your personal and financial affairs. Any changes in your professional or personal life this past year, or those that you may be expecting for the coming year, can impact your income tax returns, but also your other ongoing financial products. We look forward to scheduling a personal meeting with you to discuss your financial affairs. So that we can keep your financial house in order. To plan an appointment, please contact: secretariaat@poundwise.nl, or call: +31(0)20-3057555.

Timely, accurate and complete delivery of information
You are kindly requested to provide us with the necessary information for your tax return 2023 in the prescribed manner. Timely and accurate delivery can lead to significant savings for you, and will in all cases prevent unnecessary additional expenses. We have provided more information below.

Deferral 
Poundwise will apply for deferral for all its tax advice clients. The tax authorities will not confirm this with you. In the unlikely event that the tax authorities send you a reminder to file your tax return(s), please contact one of our advisors immediately. Without deferral, tax returns must be filed before May 1, 2024, and if deferral is granted the due date is exactly 1 year later.

Poundwise serves a large number of clients for whom we draft and file tax returns, which is why we spread the work out over the deferral period. Some of our clients prefer to file their returns as quickly as possible, others want to postpone as long as possible. Poundwise will always make an effort to take your personal preferences into account.

Delivery 
You can send us your documents by email: belastingaangiften@poundwise.nl. We prefer to receive all documents in a single email (where possible). Of course, you do not need to send us documents that you have already provided. On our website you can find a document listing all necessary information and documents. Click here for the Income Tax checklist 2023.

Rate for private tax returns
If you have a Comfort subscription with us, the costs for drafting your tax return(s) is/are included in your monthly subscription charges (you are entitled to one return per full calendar year). For more information about our service subscriptions, please contact us. If you have not yet subscribed, the costs for a tax return for 1 person amount to € 445, and if we can combine that return with that of your fiscal partner, the costs for both these returns will amount to € 545 (for a conventional tax return for domestic private persons, not including additional work).

These costs presume that the documents will be delivered to us in full and in one email, and that you will provide immediate approval for the filing of the return. This rate does not include charges for additional investigations, reviews, extra reminders or further fiscal work. Such additional work will be charged at the hourly rate of the advisor in question. If you would like to have an advance quote, please let us know. Applicable rates for entrepreneurs and migration forms are not the same as those given above. Should you have any questions about these rates, please contact one of our tax advisors, tel: +31(0)20-3057555.

Deductions
For the year 2023, there are several deductions that apply under specific conditions, for example costs for mortgage interest. These deductions are listed on page 5 of the tax return form checklist 2023.

We recommend that you check this list and provide us with the documents relevant to your situation. Should you have any relevant documents that are not mentioned on this list, we kindly request that you also send these to us.
Under specific conditions, certain expenses may also be deducted as personal deductions.

Personal deductions amount to the total of:

Partner alimony
Expenses for pension settlement
Expenses for specific health care expenses
Expenses for temporary accommodation at home of seriously handicapped persons
Education expenses (only in very specific situations)
Donations
Remainder of personal deductions from the previous years

For your information, we note that as of 2023, study or other training expenses are in principle no longer deductible, unless the performance scholarship has not been converted into a gift.

In addition to these personal deductions, there are also other potential deductions (e.g. public transportation commute expenses / life annuities etc.). These costs can be deducted from the income for which the costs are incurred. You cannot deduct all costs – sometimes specific costs are not deductible, or the deduction is limited. If you are not sure whether certain expenses are deductible, please send us a specification of these costs along with your other documents.

Tax return processing 
When we have completed your tax return(s), we will send this/these to you via email. Upon your request, we can schedule an appointment at our office to discuss the tax returns, in some cases we will ask you to meet with us. You are kindly requested to approve the tax return(s) as soon as possible following receipt. When we have received your approval, we will file the tax return(s) with the tax authorities. Once the return(s) has/have been filed, the tax authorities will need approximately 3 months to issue the final assessment. Poundwise has no control over the processing time of tax return(s) by tax authorities..

Provisional assessments/ refunds
A provisional assessment is a document describing how much tax is due or how much you will receive. This amount is based on a provisional calculation. You cannot derive any rights from this provisional assessment.

Should you have forgotten to list a deduction in the past, Poundwise can always submit a request with the tax authorities to still grant the deduction. This is not a guarantee, but it is often worth the effort!

Taxes due: If you make a profit or if you receive income from multiple sources or asset components, it is likely that you will have to pay taxes. You can choose to pay taxes in advance. We can change, cancel or apply for the provisional tax payment for 2023/2024. Please realize that there are costs associated with this service (unless you have a service subscription).

Interest
The assessment also lists any tax interest due or receivable. If you are entitled to payment from the tax authorities, in specific cases you will also receive interest. However, in most cases you will not receive interest. Do you have to pay an amount? Then you will pay interest. Tax interest is not a penalty.

Tax interest will only be calculated following the end of the tax year. This means that no interest is calculated during the course of the year. The period for which the interest is calculated spans from July 1, 2024 until the date given on the assessment.

Electronic copy assessments (EKA)/ Service messages assessments (SBA)
Poundwise will only receive digital copies of assessments from the tax authorities if an active EKA/SBA request for those assessments is in place. We do not receive copies of any other assessments. The tax authorities will send you a letter to confirm that digital copies are sent to our office. It is your decision whether or not to agree. You will receive a letter every year to remind you that copies of your assessments are forwarded to us. You may retract your authorization at all times. If you are unsure whether an assessment is correct, or if you are uncertain about what action to take, please contact our office.

Information from the tax authorities
We can request a pre-completed tax return form (VIA) from the tax authorities. We will check and, where necessary, complete or amend this information. Despite the VIA, we may still need information from you. The tax authorities will send you an activation code that Poundwise can use to activate the registration (this authorization is valid only for 1 year and one specific client). You are kindly requested to share this code with Poundwise. Please send it to us by email to: belastingaangiften@poundwise.nl (referencing your full name or BSN number). You may retract your authorization at any time.

We look forward to receiving your documents!
If you have any further questions, please call us at: .+31(0)20-3057555.

Get acquainted?

Daphne Alon

Tax advisor/financial planner

info@poundwise.nl

+31 (0)20 305 75 55

]]> A unique, photo series by Arianne Kuulkers https://poundwise.purpledev.nl/the-city-gazes-into-its-own-eyes-financeinamsterdam/?lang=en Mon, 08 Jan 2024 09:33:48 +0000 https://poundwise.purpledev.nl/the-city-gazes-into-its-own-eyes/

The city gazes into its own eyes #FinanceInAmsterdam

“Finance in Amsterdam” is about the rush, the chaos, the risks. It’s about always seeking more, better, bigger, faster. Like a fairground ride gone wild, the city stirs feelings within you didn’t even know existed. Wild adventures lurk in every street, on every square! And the promise is clear: there’s always a prizes to be won! But beware, once the whole thing comes crashing down, Amsterdam will mercilessly spit you out and fling you far beyond its outskirts. And just like that, you’re left with empty pockets and a bitter hangover. Well, that’s how it goes…

Sometimes, it’s good to take a break. A true pause. Breathe in, breathe out! And so, we begin 2024 with a moment of reflection. Ask yourself: “Who is this city, really? And what does she want from me?”. And most importantly: “What do I want?”. That too is Finance in Amsterdam. Allowing yourself to breathe, to reflect. Forget the circus, the merry-go-round, the neon lights, and the flashing signs. And for a brief moment, look the city straight in the eyes. Does she look back at you?

This year, our very own Arianne Kuulkers has put her spin on the theme “Finance in Amsterdam”. In these four unique photographs, she holds up a mirror to Amsterdam. In a fraction of a second, the world is captured in a window, a glass, or a puddle of water… The city, always presenting herself so temptingly and alluringly to anyone with a dream, takes a look at who she really is.

We wish you all the best for 2024. And remember, we are always there for a moment of reflection!

A Look At The Past

The old merchant houses along the canals look encouragingly over your shoulder, whatever your destination may be. Throughout Amsterdam, you’ll find a lot of priceless reminders of the money that was made a long time ago.

Eyes On The Money

Like a grand old lady, the tower of the Beurs van Berlage gazes down upon the AEX building, where frenzied traders make and lose money every day. Remember: in the end, things will always work out. And she knows it!

Narcissus

In its own windows, the World Trade Center gazes at a stunning reflection of itself. This robust, towering Adonis bulks with confidence and always finds a way to make a dime or two. In Amsterdam, you’ll find plenty of guys like that!

No Bridge Too Far

In Mokum, everything is possible. You can’t imagine how many ways there are to make money in this town, sometimes at the expense of others. Fortunately, the canals are always there to provide you with a mirror to take a good look at yourself in.

Arianne Kuulkers

I prefer to be outside, whether in nature or in the city, in the Netherlands or abroad. That’s when I enjoy the most and see everything. With a photographic eye, every detail, how the light falls, how the sun rises, how darkness sets in. I actually think in photographs! And preferably I capture that, so that I keep that as a memory. So too with the idea of PoundWise; #FinanceInAmsterdam. I wanted to capture that theme in mirror images. Hopefully it appeals to you. If you want to see more, check out my website

https://fotostudioar.nl/

Do you want to know more?

Arianne Kuulkers

Communication- & Recruitment Manager

info@poundwise.nl

+31 (0)20 305 75 55

]]> Box 3 – from fun box to mass objection https://poundwise.purpledev.nl/box-3-from-fun-box-to-mass-objection/?lang=en Tue, 28 Mar 2023 08:28:08 +0000 https://poundwise.purpledev.nl/?p=10401

You’ve probably heard about it many times, the tax rules for box 3 have changed dramatically. In this newsletter you can read what this could mean for you.

Brief history

In 2001 taxation of income from assets was introduced, based on fictitious returns (taxation in box 3). Instead of looking at actual returns, a fictitious return of 4% was assumed, on which 30% tax was due. In the early days, it was relatively easy to achieve a return of 4% or more. Even in bank accounts, a 4% return was easily achievable. Because many people achieved higher returns than 4%, and therefore paid relatively little tax, box 3 was also called the fun box.

Proceedings

Over the years, the interest rate on savings decreased to a level of about 0%. This led to many lawsuits from taxpayers who felt that taxation in Box 3 on unearned returns was unreasonable. After several lost lawsuits, the Supreme Court ruled in the 2021 Christmas ruling that taxation of savings, based on the rules of the box 3 system, is no longer legally tenable.  Since then, the taxation of savings has been adjusted, with a notional return for savings based on an average market interest rate. For 2023, for example, a notional return of (provisionally) 0.36% is assumed. This (largely) solves the problem for savers.

Adjustments 2023

As of 2023, major changes have again been introduced to the levy on income from assets. A relatively low return is assumed for savings, but a relatively high return of over 6% is assumed for other assets. Debts are no longer netted, but are offset against the return on savings and other assets at a certain “rate of return.” Without going into the details, for taxpayers with assets (other than savings) the changes result in a significant increase in the tax burden on assets. Especially for property owners, the changes have a negative effect. A doubling (or more) of the payable box 3 tax is no exception. We refer owners of real estate to our article on the tax consequences of the changes to the box 3 tax rules for real estate.

What to do next?

In the first place, we advise you to file an objection (or have it filed) against the income tax assessment, if you believe that the taxation of your assets is too high. This will preserve your rights. If you want Poundwise to object to the assessment, it is important that we receive the assessment within 6 weeks after it has been issued. There are costs associated with the objection procedure. Secondly, it is a good idea to have us assess the consequences for your situation. Then we can think along with you about possible solutions to relieve the tax burden.

Make an appointment?

Please contact our secretariat to make an appointment. You can do so by telephone on 020-3057555 or by e-mail: secretariaat@poundwise.nl.

This newsletter was written by Jan Jan Jansen

Get acquainted?

Jan Jan Jansen

Tax Lawyer/divorce advisor

info@poundwise.nl

+31 (0)20 305 75 55

]]> Paid Parental Leave Act and other leave arrangements around the birth of your child https://poundwise.purpledev.nl/paid-parental-leave-act-and-other-leave-arrangements-around-the-birth-of-your-child/?lang=en Thu, 18 Aug 2022 11:49:44 +0000 https://poundwise.purpledev.nl/?p=9405

At the beginning of August this year, the so-called “Paid Parental Leave Act” (hereinafter: WBO) came into force, allowing employees to take 9 weeks of additional parental leave. However, this is not the only form of leave around the birth of a child. The Work and Care Act (hereinafter: WAZO), which also includes the WBO, regulates the following forms of leave to which employees are entitled:

Maternity and childbirth leave
Calamity leave
Birth leave
Supplemental birth leave
Parental leave

1. Maternity and childbirth leave.

Women are entitled to maternity leave for a period of 16 weeks. In the period before giving birth, the employee is entitled to maternity leave and receives maternity allowance during this leave. Maternity leave starts between 6 weeks and 4 weeks before the day after the due date (flexibility period).

Example:

The employee’s due date is December 1. The day after is December 2. The leave starts between 6 and 4 weeks before December 2. Therefore, between October 21 and November 4. The employee decides on which day within this period the leave starts.

After childbirth, the employee is entitled to childbirth leave and an accompanying childbirth benefit of at least 10 weeks. The childbirth leave starts on the day after the birth of the child. The leave lasts at least 10 weeks. Even if the baby is born later than the due date. The maternity leave then lasts longer than 16 weeks.

Example:

The employee stops working 6 weeks before the day after the due date, but the baby is born 2 weeks after this date. The employee then has 8 weeks of maternity leave and 10 weeks of childbirth leave. In total, the employee has 18 weeks of leave.

When the baby is born prematurely, the days that the maternity leave was shorter are added to the maternity leave, because the total leave period is at least 16 weeks.

The UWV calculates the benefit for pregnancy and maternity leave (and for additional birth leave and parental leave) on the employee’s daily wage by adding;

taking the date of 1 month prior to the employee’s leave. From this date, SV wages are calculated up to one year back.
The SV wage is divided by 261 workable days. If the employee has been employed for less than a year, the SV wage is divided by the number of days the employee was paid.

The result of this is the daily wage. The maternity leave allowance is 100% of the (maximum) daily wage. The maximum daily wage is € 232.90 per day (2022). This is equal to € 5,065.58 gross per month.

2. Calamity leave

The partner of the pregnant employee can take calamity leave to attend the birth. The leave lasts as long as it is necessary to be present at the birth. It is also possible to take calamity leave to report the birth at the town hall and it is not necessary to take birth leave for this. The employee is entitled to this leave with pay.

3. Birth leave

Since January 1, 2019, after the birth of the spouse, registered partner, the person with whom the employee cohabits unmarried or the person from whom the employee recognizes the child, partners are granted birth leave once the number of working hours per week. The leave must be taken, counting from the first day after the birth, within 4 weeks after the child is born. This also applies if the child must first stay in the hospital for a while. The period of 4 weeks does not shift as a result.

The employee must inform the employer in advance or as soon as possible after the birth that leave will be taken. This can be done verbally or in writing. The employer may not refuse this leave. As with the calamity leave, the employee is entitled to leave with full pay.

4. Additional birth leave

Since July 1, 2020, partners can take up to 5 weeks (5 times the number of working hours per week) of additional birth leave. During the leave, the partner does not receive a salary, but instead a benefit from the UWV. Partners are entitled to additional birth leave if the child is born on or after 1 July 2020. They have to take the additional birth leave within 6 months after the birth of the child, but have first taken the birth leave of 1 week.

The employer may not refuse the request for additional birth leave. However, it can refuse the distribution of working hours, but this is only possible if the leave would cause serious problems for the company.

The UWV calculates the benefit for the additional birth leave on the employee’s daily wage. Under the WAZO, employees are entitled to a benefit from the UWV equal to 70% of the (maximum) daily wage. The employer applies for the benefit from the UWV and pays it to the employee. If the employer chooses to do so at the time of application, it is possible that the benefit will be paid directly to the employee by the UWV.

Example:

An employee with a calculated daily wage by the UWV of € 350.00 will receive no more than 70% of the maximum daily wage of € 232.90. In this case, the maximum amount of the benefit is € 163.03 per day. This is equal to a gross amount of € 3,545.90 per month.
An employee with a calculated daily wage by the UWV of € 200.00, receives a benefit of 70% of the daily wage. In this case, the employee will receive a benefit from the UWV amounting to € 140.00 per day. This is equal to a gross amount of € 3,045.00 per month.

5. Parental leave

From 2 August 2022, employees will be able to take paid parental leave and receive a benefit from the UWV for this. Employees already had the option of taking unpaid parental leave up to the child’s eighth birthday, but the aim of paid parental leave is to give parents the option of taking paid leave for up to 9 weeks out of these 26 weeks.

Under the WBO, employees are entitled to a benefit from the UWV equal to 70% of the (maximum) daily wage. The UWV calculates the benefit for parental leave in the same way as the benefit based on the additional birth leave. However, it is possible that the CAO or employment contract contains exceptions whereby the payment is supplemented by the employer.

For women, this parental leave will be in addition to the existing 16 weeks of maternity leave. With the entry into force of the WBO, women will be entitled to a total of 25 weeks of paid leave instead of the 16 weeks to which they were already entitled. For men, parental leave will also be in addition to the existing paid maternity leave. With the enactment of the WBO, men will be entitled to a total of 15 weeks of paid leave instead of the 6 weeks to which they were entitled until recently.

The law will also apply to parents with a child younger than one year. The condition is that the number of statutory parental leave hours has not yet been taken and that the parent is still an employee. Also, the employee must have at least one week left of unpaid parental leave. The employer can only claim benefits in whole (working) weeks. If these conditions are met, an entitlement to paid leave follows by means of a UWV payment with respect to the remaining statutory parental leave hours until the child reaches the age of one year.

To be entitled to parental leave, the employee must have submitted a written request to the employer at least two months in advance. In doing so, the employee must address how he wants to take the leave hours and how he wants to spread them out. The employee can adjust the working hours for 1 year, but if the employer agrees, this period can be longer.

The employer may not refuse the request for parental leave. However, it can refuse the distribution of working hours. This can be done up to 4 weeks before the parental leave start date, but is only possible if the leave will cause serious problems for the company. In such situations, the employer must agree with the employee on another distribution of leave hours.

The total amount of statutory parental leave is still 26 weeks times the number of hours of one working week under the WAZO. An employee may also still take the leave during the first 8 years of the child’s life. However, the condition for the paid parental leave is that the employee can only take it in the first year and for 9 weeks. The number of hours/days that may remain after this can still be taken unpaid until the eighth year of life.

If a child is adopted, a parent may take paid leave within one year of the adoption provided the child has not yet reached the age of eight years.

If an employee has submitted a request to the employer at least 2 months before the leave, the employer is obliged to apply for the UWV benefit. The application for the benefit can, as with the application for maternity leave and additional birth leave, be made via the Absentee Notifier or Digipoort. The employer applies for the paid parental leave benefit on behalf of the employee, the employer can choose whether to receive the benefit in one lump sum or in parts:

If the employer wants to receive the benefit in one lump sum, he can submit this application after the employee has taken the entire leave. This request is also immediately the payment request for the entire benefit.
If the employer wants to receive the benefit in parts, he will submit a request with the first payment request after the employee has taken part of the leave. After this, the employer can submit up to 2 more payment requests. The second and third payment requests can only be submitted after the application with the first payment request has been approved by the UWV.

In addition, the application for the benefit is only possible for entire work weeks, but it is possible to spread the leave flexibly during the child’s first year of life. For example, the employee can work one day less per week.

If an employee becomes ill during paid parental leave, the situation continues as usual. The employer only pays for the hours for which parental leave has not been taken. The employer and employee may agree to make up the leave at a later date. When there is a totally sick employee, taking parental leave is not possible.

We understand that leave arrangements are comprehensive and complex. Should you have any questions as a result of this, please do not hesitate to contact us.

Written by Rick Fransen, Fiscalist, Financial & Estate Planner

August 2022

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Rick Fransen

Tax advisor/financial planner

info@poundwise.nl

+31 (0)20 305 75 55

]]> More and more homebuyers keep their old home for rental https://poundwise.purpledev.nl/more-and-more-homebuyers-keep-their-old-home-for-rental/?lang=en Wed, 07 Jul 2021 07:54:47 +0000 https://poundwise.purpledev.nl/?p=6353

More and more private homebuyers are deciding to keep their homes. This is in order to be able to rent it out, also known as keep-to-let. Research by the Kadaster shows that the phenomenon accounted for four percent of all transactions in the past ten years. This amounts to 62,000 homes.

According to the survey, this mainly concerns homebuyers owning apartments and row houses who decide to keep them after moving. These homes are located in the same municipality or region as the new home for more than half of the private homebuyers. The average age of this group is 46 years. This means that this group is five years older than private buyers in the housing market.

Reason for keeping home

Whereas the keep-to-lift phenomenon is increasingly popular among homebuyers, this is not the case for buying an additional home to rent out. This is also known as buy-to-let. The Kadaster registered 75,000 housing transactions over the past decade. However, the gap is narrowing with the 62,000 keep-to-let transactions.

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Fleur Slaman

Commercial manager

info@poundwise.nl

+31 (0)20 305 75 55

]]> Art photographer Jesse Faber exhibits “Finance in Amsterdam” https://poundwise.purpledev.nl/art-photographer-jesse-faber-exhibits-finance-in-amsterdam/?lang=en Thu, 18 Feb 2021 12:50:42 +0000 https://poundwise.purpledev.nl/?p=5087

Exclusive for Poundwise relations

“In general, money and art don’t mix very well. But Poundwise gave me a free hand to shoot whatever I wanted in town. I was allowed to determine how we could visualize “Finance in Amsterdam”. I didn’t want to have images with prostitution, drugs or a street sign of the PC Hooft. I just wanted to capture the ordinary Amsterdam of real ‘Amsterdammers’. Not that of the tourists. ”

Your destiny

“Finance in Amsterdam” is also about taking your chances. One moment you are the king, the next moment you shrug your shoulders after a disappointment and you go on with your life. You can write books about that Amsterdam resilience.

Dreaming in your trolley

Millions of euros, packed in nothing more than a trolley case. Every day an army of dreamers with their heads full of ambitions moves to the Zuidas to earn big money. Amsterdam gives you that chance. But beware, the temptation of expensive things and a beautiful house that just costs too much, might kill your dreams.

Help a little

This is also “Finance in Amsterdam”. Merciless, harsh, unforgivable. But make no mistake. The real ‘Amsterdammer’ walks past it a few times, and then turns around and puts something in the cup. Because, together we Amsterdam!

Money. There is music in that.

Amsterdam has always been a home for creatives. “Finance in Amsterdam” also stands for earning money in a way that is slightly different. Some ‘Amsterdammers’ choose the illegal route, but often you just find them on the street with a piano and guitar.

Sold

Shop windows full of discounts, the real ‘Amsterdammer’ no longer cares about it. Still, crowds of people from far and wide flock through the Kalverstraat day in, day out, looking for just that little bit more. Three pairs of jeans for under fifty euros? You will jump in the air!

Work for your pennies

Left, right, traffic light, cross diagonally and get off again. For many ‘Amsterdammers’, the raging pizza couriers are the unwritten heroes for evenings when the supermarket is just a little too far away. If you look at it that way, the delivery people don’t really deserve what they are worth …

Stars of the economy

The city growls, squeaks and creaks under the weight of the daily hustle and bustle, the large and small transactions and the speed of working life. In the high towers of De Nederlandsche Bank the big money is managed and in the tram it is spent bit by bit on web shops full of great offers.

Rock around the block

Note for note, cent for cent the saxophonist at the Vondelpark earns his money. It is actually indispensable as background music for dates, walks and romantic evenings. If “Finance in Amsterdam” needs a soundtrack, we know where to find this uncrowned hero.

What are we doing

“Finance in Amsterdam”, it is good or bad. And with a maze of traffic lights, pedestrian crossings, diversions and tram tracks, a mistake is easily made. But hey, the real ‘Amsterdammer’ then pretends that his nose is bleeding and hopes to get rid of a strict police officer with a warning.

Garbage

A piece of unwritten Amsterdam history: the boutique where you can get everything. In streets, alleys and canals, small shops fight for a clientele consisting of overwhelmed tourists and provincials on a bargain hunt. Has the decision already been made, or do you first take a look at the shop next door?

Cash

That leather wallet that grandfather already had in his back pocket, that too is “Finance in Amsterdam”. Money comes and goes on the market, tulips are sold and come in again, but the wallet remains. Generation after generation, until it really falls apart.

Wanna trade?

The market merchant. If the wind is right, you can hear it from afar. The Albert Cuyp echoes the past, while all kinds of goods are sold at a reasonable price. Are you looking for “Finance in Amsterdam”? Then start here!

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Daphne Alon

Tax advisor/financial planner

info@poundwise.nl

+31 (0)20 305 75 55

]]> Income from Bed & Breakfast https://poundwise.purpledev.nl/income-from-bed-breakfast/?lang=en Tue, 16 Feb 2021 14:00:45 +0000 https://poundwise.purpledev.nl/income-from-bed-breakfast/

In Amsterdam, there are many individuals who make rooms available within the context of “Bed & Breakfast”. The biggest platform used for this is Airbnb. Under certain circumstances, the income must be declared to the tax authorities. But what are the tax rules?

Situation 1. Temporary rental

If the own home is occasionally made available in its entirety as part of Airbnb, the rental income of 70% should be entered in Box I; the associated costs of gas and electricity are 100% deductible. In this situation, the mortgage remains deductible as usual. The tax liability of the notional rental value remains. This is the scheme for temporary rental. You can think of making the property available for a few weeks during the holidays.
The room rental exemption with Airbnb is not applicable, as this exemption does not apply to temporary rental.

Situation 2. Profit from other activities

In general, income from Bed & Breakfast is taxable as income from other activities. Short-term rentals, after all, require some work, such as scheduling reservations, receiving guests, washing linens, cleaning and taking care of breakfast. These activities normally go beyond normal asset management. If the income is taxed as income from other activities, the progressive tax rate is applicable. This means that the income is taxed in the same way as earned income, for example, with a rate of up to a maximum of 49.5%.

Situation 3. Business profits

Should the Bed & Breakfast generate substantial income, and in the event that certain conditions are met, the revenue/ income may yield business profits. The tax regime for these business profits will be nearly equal to that for revenue generated from other work. The main advantage of treating the income as business profits is that this allows for a number of tax deductions, such as the SME-profit exemption. Based on the SME profit exemption, a specific portion of the profits is not subject to tax (in 2020: 14% of the profit).

Situation 4. Income from savings and investments (Box 3)

Under some circumstances, income from the Bed & Breakfast can be covered by box 3. If the conditions are complied with, the income is no longer taxable, but the value of that part of the property used for the Bed & Breakfast is taxed at the fixed rate of Box 3. A tax liability for (that part of) the home is deductible from the declared value. For instance, if the part of the home used for the Bed & Breakfast is worth €50,000, then in Box 3 €690 tax is owed (at a Box 3 rate of 1.38%). Note that no costs of interest, electricity, water and the like are can be deducted. In future taxes on Box 3 income may go up because of a change in tax legislation.

It is not easy to get the income to fall into Box 3. The tax authorities will quickly maintain that this is from activities and that the income must, therefore, be taxed as income from other activities. For the income to be applicable for Box 3, it must be assumed that the person who makes a part of the house available performs no or hardly any work within the framework of Bed & Breakfast.
Besides the income tax, you may also be liable for sales tax. In this article, we restrict ourselves to the tax aspects of the income tax.

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Jan Jan Jansen

Tax Lawyer/divorce advisor

info@poundwise.nl

+31 (0)20 305 75 55

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